It's now going to be called Great BigHairyDogWithLargeScammyFleas Silver.
GPR.to came out with its 1q10 production numbers today. There's a lot to laugh about, not least of which is that GPR recorded false numbers for its consolidated silver production by reporting 390,026 oz Ag instead of the actual (add-em-up) 357,131...this because they reported the 4q09 figure of 390,026 instead of the true 1q10 figure in the bullet points...dumbass IR dep't and boilerplate releases strike again.
That aside, here are three charts that go some way to explaining the pisspoverty of the 1q10: First overall silver production.....
GPR.to came out with its 1q10 production numbers today. There's a lot to laugh about, not least of which is that GPR recorded false numbers for its consolidated silver production by reporting 390,026 oz Ag instead of the actual (add-em-up) 357,131...this because they reported the 4q09 figure of 390,026 instead of the true 1q10 figure in the bullet points...dumbass IR dep't and boilerplate releases strike again.
That aside, here are three charts that go some way to explaining the pisspoverty of the 1q10: First overall silver production.....
...which sucked. Remember folks, this is the same GPR.to that told us in January 2010 that it (and I quote): "... has initiated its new strategy to accelerate production and increase resources at both Guanajuato and Topia. The new plan forecasts increases to 2.5 million Ag eq oz in 2010...".
You said it, owly. Next we have average daily mineral throughput, the combined number from its two operations:
Production dropped from 4q09 and is back under 500tpd (sidebar note...why anyone takes a 500tpd miner seriously is beyond me anyhow). GPR doesn't make much noise about why that should be in the NR, but what it will mean is that cash costs at GPR.to are bound to rise again, taking away any semblance of a net profit even with silver running at prices that are extremely profitable for any silver miner that actually knows what they're doing. Finally here's the estimated Ag head grade for the mineral......
....which again doesn't come as much surprise to those of us that have followed this dog for a while. In late 2008, GPR decided to weather the financial storm by mining only the high grade areas of its Guanajuato asset. This has depleted overall head grades and now, however much they'd like to lipstick the pig, it's payback time.Great BigHairyDogWithLargeScammyFleas Silver (GPR.to) is not a serious company. The only people that reco it are those that are on the company payroll (step forward Bob Moriarty, Mexico Mike, Peter Grandich (natch) other shadies and agenda-pushers) and the chances of yet another dilutive financing to keep this loss-making joke afloat in the next few weeks are roughly 100%. Avoid like the plague.